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42 U.S. HOUSEHOLDS REPORT OVERALL HIGH ECONOMIC WELL-BEING e Federal Reserve Board recently released its Report on the Economic Well- Being of U.S. Households. e report provided results from the responses to the 2019 Survey of Household Economics and Decisionmaking (SHED), as well as from responses to a follow-up survey conducted in April 2020. Surveyed items included income, employment, dealing with expenses, banking and credit, housing, education, and retirement. As of the end of 2019, 76% of adults reported "doing okay" or "living comfortably financially,", which was unchanged from 2018 and was 13 percentage points higher than when the survey began in 2013. e report showed how homeownership is closely intertwined with a household's finances. ough nearly two-thirds of adults owned their homes, homeownership rates varied by age, race, and location. Homeownership rates generally tended to rise with age. e report revealed that 26% of 18-to-29-year-old owned their homes compared with 85% of people age 60 and older, as young adults were more likely to live with parents to save money. Similar analysis had been done by NAHB based on the results from the Census Bureau's Housing Vacancy Survey (HVS). According to the National Association of Homebuilders, white adults had a higher homeownership rate than black and Hispanic adults. Seventy-one percent of white adults owned their homes, compared with 48 and 50% of black and Hispanic adults. Moreover, rural residents were more likely to own their homes compared with people living in other areas, with 31% of rural residents owned home without a mortgage, compared with 20% of urban residents. e survey also provided information on the economic well-being of renters. Renters were asked to indicate all reasons for renting rather than owning. One of the common reasons for renters not to own their homes was difficulty accessing mortgage. Sixty-two percent of renters reported that they could not afford the down payment, and 41% of renters said that they could not qualify for a mortgage. Other reasons that keep people renting include convenience and affordability. More than half of renters preferred renting because it is cheaper and convenient. Among renters, 35% of respondents were looking to buy a home. Journal